Oppenheimer Asset Management Inc. Sells 33,009 Shares of Las Vegas Sands Corp. $LVS

Key Points

• Oppenheimer Asset Management cut its stake in Las Vegas Sands by 39.9%, selling 33,009 shares and leaving 49,702 shares valued at about $3.24 million at quarter-end.
• CEO Patrick Dumont sold 60,165 shares on March 17 at an average $54.75 (≈$3.29 million), reducing his position by 10.52% to 511,942 shares.
• Las Vegas Sands beat Q results (EPS $0.91 vs. $0.76 estimate; revenue $3.59B, up 25.3% YoY), announced a $0.30 quarterly dividend (2.2% yield), and carries a consensus analyst rating of "Moderate Buy" with a $68.28 target.

Oppenheimer Asset Management Inc. cut its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 39.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,702 shares of the casino operator's stock after selling 33,009 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Las Vegas Sands were worth $3,235,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of LVS. Grove Bank & Trust bought a new stake in Las Vegas Sands during the 4th quarter worth approximately $26,000. Westside Investment Management Inc. grew its position in Las Vegas Sands by 48.0% during the 3rd quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator's stock worth $28,000 after acquiring an additional 166 shares during the last quarter. Root Financial Partners LLC bought a new stake in Las Vegas Sands during the 3rd quarter worth approximately $33,000. Smartleaf Asset Management LLC grew its position in Las Vegas Sands by 549.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 630 shares of the casino operator's stock worth $35,000 after acquiring an additional 533 shares during the last quarter. Finally, IFP Advisors Inc grew its position in Las Vegas Sands by 182.4% during the 3rd quarter. IFP Advisors Inc now owns 672 shares of the casino operator's stock worth $36,000 after acquiring an additional 434 shares during the last quarter. 39.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Las Vegas Sands news, CEO Patrick Dumont sold 60,165 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $54.75, for a total value of $3,294,033.75. Following the transaction, the chief executive officer directly owned 511,942 shares in the company, valued at approximately $28,028,824.50. This trade represents a 10.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.55% of the company's stock.

Las Vegas Sands Stock Up 0.1%

Shares of LVS opened at $53.85 on Monday. The firm has a market capitalization of $35.68 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.23 and a beta of 0.85. The company has a debt-to-equity ratio of 8.64, a quick ratio of 0.91 and a current ratio of 0.92. The business's fifty day moving average price is $54.66 and its two-hundred day moving average price is $59.15. Las Vegas Sands Corp. has a 52 week low of $37.24 and a 52 week high of $70.45.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The casino operator reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.15. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.32 billion. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.The business's quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. On average, analysts predict that Las Vegas Sands Corp. will post 3.35 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Tuesday, May 5th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, May 5th. Las Vegas Sands's dividend payout ratio (DPR) is presently 44.44%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LVS shares. Jefferies Financial Group increased their price target on Las Vegas Sands from $61.00 to $63.00 and gave the stock a "hold" rating in a research report on Thursday, April 23rd. Macquarie Infrastructure restated an "outperform" rating and set a $70.00 price target on shares of Las Vegas Sands in a research report on Thursday, January 29th. Seaport Research Partners decreased their price target on Las Vegas Sands from $72.00 to $69.00 and set a "buy" rating on the stock in a research report on Tuesday, April 21st. Barclays increased their price target on Las Vegas Sands from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus increased their price objective on Las Vegas Sands from $72.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Las Vegas Sands presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.28.

About Las Vegas Sands

Las Vegas Sands NYSE: LVS is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company's operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company's portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.

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